Regulatory filings show that Estee Lauder (EL) director Paul Fribourg bought 387,800 shares of the company’s stock for a total of $24.9M, for an average price of $64.27 each, from November 13 through 19. Shares of Estee Lauder are up 2% to $68.30 in morning trading, which traders are attributing to a Barron’s report highlighting the recent insider buying, contacts tell The Fly.
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Read More on EL:
- Estée Lauder Amends Share Plan and Holds Annual Meeting
- Estee Lauder call volume above normal and directionally bullish
- Gordon Haskett wonders if Estee Lauder is new Trian position
- Estee Lauder price target lowered to $75 from $98 at Deutsche Bank
- Estee Lauder price target lowered to $70 from $95 at B. Riley
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